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General

Nokia accelerates cost-cutting after market slowdown

Tuesday 10 May 2016 | 08:36 CET | News
Nokia reported a 9 percent fall in pro forma first-quarter sales to EUR 5.603 billion, hurt  by the slowdown in the mobile networks markets. Operating profit rose to EUR 345 million from EUR 276 million a year ago, on a pro forma basis for the merger with Alcatel-Lucent. The net result was a loss of EUR 613 million versus a profit of EUR 139 million a year earlier, due to merger-related charges. Nokia confirmed it has started the earlier announced job cuts and was pushing ahead quickly with the realisation of synergies from the Alcatel deal. It now expects to exceed to target of EUR 900

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Categories: General
Companies: Alcatel-Lucent / Nokia
Countries: World
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